23.16.2610    DEFINITIONS

As used throughout this subchapter, the following definitions apply:

(1) "50/50 raffle" means a raffle sponsored by a nonprofit organization in which the winner is awarded a monetary prize calculated by a predetermined percentage of the gross raffle ticket sales proceeds (example: 50% to the player and 50% to the raffle sponsor).

(2) "50/50 raffle electronic processing system" means products and support services supplied to a 50/50 raffle sponsor.

(3) "Nonprofit organization" means a nonprofit organization as defined in 23-5-112, MCA.

 

History: 23-5-112, 23-5-115, 23-5-413, MCA; IMP, 23-5-413, MCA; NEW, 2019 MAR p. 302, Eff. 3/16/19.